The outlook for the commercial real estate industry remains strong despite growing concerns over sluggish job creation and higher taxes, according to a new survey of commercial real estate professionals who attended a leadership conference hosted by NAIOP, the Commercial Real Estate Development Association.
The poll was conducted during NAIOP’s 2015 Chapter Leadership and Legislative Retreat and surveyed over 100 commercial real estate insiders.
Nearly half of respondents indicated that sluggish job growth was a major concern and nine out of 10 indicated that higher capital gains taxes would have some impact on investment and growth, with many saying the impacts could be “severe.”
President Obama’s FY 2016 budget proposal includes a proposal to raise the top tax rate to 28% on capital gains and qualifying dividends for couples with income over $500,000.
Despite concerns over sluggish job creation and higher taxes, 52% projected strong growth in 2015, while 43% saw the industry as remaining stable.
“Our members are optimistic, but sluggish job creation and the looming threat of higher taxes are their main worries right now. Given our industry’s contribution to a durable economic recovery and generating good-paying jobs, we hope Congress and the president will hear this and weigh the serious consequences of a tax hike at this time,” said Thomas J. Bisacquino, president and CEO of NAIOP.
When asked the question “what keeps you up at night?” 27% of respondents indicated that gridlock in Washington was a major concern. “We need strong and consistent policies from Washington that encourage investments in development projects so more Americans can share in our economic recovery,” said Bisacquino.
Related Stories
Office Buildings | Feb 8, 2018
The American Psychiatric Association moves into The Wharf
The new office occupies 3 floors at 800 Main Avenue SW.
Wood | Feb 5, 2018
The largest timber office building in the U.S. will anchor Newark, N.J. mixed-use development
Michael Green Architecture is designing the building.
Green | Jan 30, 2018
Welcome to the Jungle: Amazon’s Spheres have opened to employees and the public
The Spheres provide the most unique aspect of Amazon’s downtown Seattle headquarters.
Reconstruction & Renovation | Jan 23, 2018
New co-working space will focus on serving local, African-American youth in Miami
The new space has been dubbed ‘Tribe.’
Office Buildings | Jan 18, 2018
At the ready: spec suites make hard-to-rent office space more attractive
Filling a need for startups looking for quick move-ins.
Office Buildings | Jan 18, 2018
*UPDATED* Amazon narrows list of possible HQ2 locations down to 20 cities
The company expects to invest over $5 billion in construction and grow HQ2 to include as many as 50,000 jobs.
Office Buildings | Jan 3, 2018
Activating the workplace
Here's how active work stations impact how you think, perform, and feel.
Office Buildings | Dec 19, 2017
How do we measure human performance, and what does it mean for the workplace?
There are many new tools and methods that are beginning to look more comprehensively to evaluate organizational well-being.
Office Buildings | Dec 15, 2017
How environmental graphics can inspire culture and creativity in the workplace
Once you secure outstanding talent, how do you keep the creative juices flowing and help employees feel more connected to their company’s culture?
Office Buildings | Dec 14, 2017
San Francisco’s first WELL v1 Certified project has been completed
The space emphasizes WELL’s vital concepts of air, water, nourishment, light, fitness, comfort, and mind within the workplace.
